Trade setup: Trend trader: Price briefly dipped below $20K support and remains in a downtrend. Swing trader: near-term, momentum is improving (MACD Histogram rising) and price could swing up to $26K. (set a price alert).
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $20k. The nearest Resistance Zone is $26K (previous support) then, $29K – $31K and $35K.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $20k. The nearest Resistance Zone is $26K (previous support) then, $29K – $31K and $35K.
Avange-Lina